Here's the real cost of the '12 Days of Christmas'

Your true love will need to raise their budget for your Christmas gifts this year.

PNC released its annual Christmas Price Index on Friday, and it showed that prices for items from the 12 Days of Christmas carol rose by 0.7% from last year. That's slightly up from the 0.6% pace in 2015.

Everything, from the partridges on day one to drummers on day 12, cost $156,507.88. The "core" index, excluding volatile swan prices, rose 1.1% to about $21,000.

For over 30 years, PNC has published this index based on prices of the twelve gifts in the famous carol.

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RELATED: If you're looking for more gifts this holiday season, check out the slideshow below with hot items all under $100:

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21 holiday gifts under $100
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21 holiday gifts under $100
For your favorite niece who loves the hottest gadgets... 
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For your friend who finally got a start on their entrepreneur endeavor ... 
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For your significant other who loves classic tunes...
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For that friend in your life who always asks for your cable log-in ... 
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For your younger sibling who's an aspiring filmmaker... 
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For your mom who's a complete neat-freak but a little out of touch with modern technology ...
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For your younger neighbor who just started adulting... 
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For your favorite filmmaker...

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For your friend who never has any games but always offers to host a get together ... 
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Your aunt who probably still uses a CD player to listen to the latest music ... 
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For your college friend who just graduated from their dentistry program ... 
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For your boss who basically lives in the office ...
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For your dad who's always complained that he's never had a proper tool kit ...
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For your best friend who is obsessed with healthy eating ...
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For you, because you deserve it after buying gifts for everyone else ...
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They do it partly to entertain their clients, and you, as things slow down over the holidays. They don't expect you to take this too seriously.

But the index is based on prices of the real items. For example, prices for geese are sourced from a waterfowl farm, and PNC asks a nursery in New Jersey for the cost of pear trees.

PNC found that a scarcity of Turtle Doves mainly drove the cost of Christmas higher. Wage growth across the economy made pipers and drummers more expensive. And, it's been a wild year for gold, but the price of gold rings held steady.

Here's PNC's full breakdown of the 12 days. You can check out a fun infographic here.

Screen Shot 2016 12 02 at 9.32.52 AMWikimedia CommonsThe real economic data in fact show that there are inflation pressures within and outside the US. Commodity prices are moving back up after tumbling during the past few years; earlier this week, a deal by the Organization of Petroleum Exporting Countries to limit oil production lifted prices back above $50 per barrel.

Also, the US is getting some wage inflation. Average hourly earnings rose in October at the fastest annualized rate since the recession. Although the November report released Friday showed a pullback, the trend has crept higher this year.

And of course, the 12 days of Christmas are more expensive this year.

NOW WATCH: Watch the 2016 John Lewis Christmas advert

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SEE ALSO: The unofficial Goldman Sachs gift guide for 2016

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